Everybody knows the stories: brilliant minds create companies like Google, Facebook and Ebay, grow them from tiny start-ups to massive conglomerates, often by pulling 80 hour weeks and refusing to take days off for the first few years. Others become astronomically successful by self-publishing books online or creating video courses. If you spend a lot of time reading online media, it seems like online billionaires must be everywhere, but you’ve probably never met one yourself. And frankly, it seems ridiculous.
All right, so these seemingly-mythical billionaires do exist, but you’re right about one thing: they aren’t everywhere. Oh, and you probably won’t end up in their ranks. But you can start an online business and see some success. In fact, 1 in 10 Australians is already earning money through an online business.
While some businesses simply have to be operated in brick-and-mortar locations, online businesses have several advantages in many industries. Here are the top 5:
Freedom to make as much money as you want. When you run your own business, you are in complete control of how much money you make. Often you’ll have to work harder initially to start making good money, but once you do, the work gets easier. Many online business models also feature passive income, meaning you can make money even while you’re on vacation.
The ability to control your own hours. You might have to be up and “at work” during daylight hours to have meetings with clients, but for the most part, you get to control your own hours when you run an online business. In the vast majority of online businesses you can even work in your PJs, although many entrepreneurs find it easier to stay focused if they dress up in their work clothes.
Low overhead costs and little risk. Most online businesses require very little financial outlay and only a small amount of risk. Many website building platforms such as WordPress make it easy to build an attractive website and even come with cheap (under $100) pre-made designs that can really help your website stand out. If you’re running a service based business such as a freelance writing business you don’t even need to worry about purchasing massive amounts of stock or shipping products.
There are endless options. These days you can start almost any kind of business online with ease. You can make money at any time or day of night and sell directly to customers in any part of the world. You can even use one website to make money in several different ways, many of which require a minimal amount of skill to set up even if they require a significant time investment.
It’s easy to find an affordable training program. There are training programs to help you get started in every kind of business, often found at every price range. The pros who started making money online ten, twenty years ago are now teaching people of all kinds how to start their own dream businesses—and odds are pretty high that you can find one in your niche.
With online business, the possibilities are endless. You can sell almost any skill and certainly any product online, and more people are turning to the internet for their purchases every day. As the younger generations who have grown up surrounded with technology gain purchasing power you can bet the success of online businesses will only continue to grow.
Still, make sure to research opportunities before you try to start any online business. Each one has its own advantages and drawbacks, and some require you to get a professional certification of some kind before you complete them. Make sure you truly want to commit to something before you spend any money on training. You’ll thank yourself later.
Hi, I'm Julie. I absolutely love the network marketing industry and through experience in a handful of traditional business, franchising, network marketing and direct selling business over the past 20 years, I've decided to start Network Marketing Watch to help you find the perfect business opportunity for you.